Michael, this is an exact copy of a post you made in the development thread…

https://www.propertyinvesting.com/forum/topic/16349/6.html

I suggest you go take a look as I posted a rather long response to this post and some of your others regarding living off equity.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

What I meant in the first part was that in the absence of a written and executed lease to the contrary, the tenant can room all fixtures and fittings that they put in place. They are only required to leave the premises in the state they received it – allowing for normal wear and tear of course.

You will find that a Court will not enforce…[Read more]

The best view of Melbourne is the one in the rear view mirror when you are driving out of there!!!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I thought all of Melbourne had a bad reputation. Bloody Mexicans!!! ))

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Michael, nothing personal, but I was asked why I was not so critical of your comments pertaining to living off equity. To be honest, I did not read the earlier pages of this thread.

As a result, I have written an extensive response to a few of your comments on this subject to be fair to poor Terry!

Nothing personal guys… I just think this…[Read more]

Real estate agents only do ‘appraisals’. These are worth less than used toilet paper. They over estimate in an attempt to get a listing.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Thanks John,

I found it and wrote a very long response to the living off equity idea which I am just about to post. I do not get involved much with the developing side of things.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I rarely go in the developing topics. Do you have a link or remember the title?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

It must be a pretty big town to have a Woolies. Good luck with the research.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Depending on the population of the town and the facilities available, I would be leaning towards an IGA store which included various services such as a Bakery, Chemist, Butcher etc. I would probably also allocate a small area for internet services. It sounds like you have the space. Does the town need a good supermarket and/or other…[Read more]

Originally posted by Derek:
And finally to Rob, I wonder if your ‘bagging’ has anything to do with the rejection you got from The Club when you expressed a wish to become one of our recognised brokers and the subsequent rejection I sent you in an email around the end of Feb/early March of 2005.

I never really wanted to pursue this comment further…[Read more]

Originally posted by Terryw:
The trouble with selling property is the costs and taxed invovled not to mention the loss
of any future capital gains.

I am not suggesting selling anything. I am suggesting that the only people who could use this ‘strategy’ effectively will not need it due to the high rental income they will be receiving. They will…[Read more]

Commercial and retail property requires a tenant leave the property in the state they received it. I went through similar problems with my landlord at my office. They wanted to do a market increase of the rent without repairing any problems that have been ongoing for years. The problem was that their opinion and mine as to market rent was very…[Read more]

It works anywhere you can match a buyers needs with those of the investor. I would strongly recommend using a professional if you are starting out.

Send a call out to Qlds007.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I am with you Luci.. no ‘pros’ here.

You know what they say about Queensland holiday property…

“Beutiful one day, vacant the next!”

To be honest, I just made that up. It represents my view on any holiday letting area.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I read an article a while back about the problems Australia faces regarding bore water. Apparently, it’s high salinity level, caused by many years of poor farming techniques resulting in high levels of erosion and destruction of the top soil, has rendered it useless and more damaging in most areas of Australia.

I do not recall where the article…[Read more]

Originally posted by Dazzling:
In 1970 (I think he was 40 then) he decided to sell the lot and cash in his chips – think he cleared $ 300K, and subsequently lived like a king.

This guys must be an absolute moron. If he honestly believed he could live like a “king” on $300,000, even in the 70’s, from age 40 until he died, he was on drugs. Then…[Read more]

Who is building it? Is it your own project, are you teaming up with someone or is a company selling it to you?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Thanks for the overview Luci. I am familiar with draw-downs as it is the most common way.

My point regarding paying upfront or building ‘PART” of a building was in reference to the Strata Title requirement which usually applies to units.

Paying upfront for a single unit in a development is something I have never seen and would strongly advise…[Read more]

The bank valuation cannot be relied on by any other party besides the bank it was ordered by. It is a valuation for mortgage purposes only.

It would be safer getting your own valuation. This should not be more than $300 – $400 for a standard property.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links